Crypto News 25/7/22

1. FTX to Offer Early Liquidity to Customers of Voyager

FTX is working with West Realm Shires, the company that owns FTX.US, and Alameda Ventures to allow Voyager customers to create new accounts on FTX.

Voyager customers who take the offer will have an opening cash balance funded by an early distribution on a portion of their bankruptcy claims. They would be able to withdraw the cash immediately or use it to purchase digital assets on FTX

Source: CoinDesk

2. Taiwan Set to Ban Crypto Purchases Using Credit Cards

Taiwan's Financial Supervisory Commission (FSC) is looking to stop the use of credit cards for crypto purchases. It had issued a letter to the local banking association in early July, which asked credit card agencies to stop bringing on crypto platforms as merchants.

IIt is giving credit card firms three months to to comply with the new requirements in which credit cards cannot be used for online gambling, stocks, futures, options and other transactions.

Source: CoinDesk

3. Singapore Crypto Exchange, Zipmex halts withdrawals

Zipmex, a cryptocurrency exchange that operates in markets like Singapore and Thailand, halted withdrawals as the fallout from a series of defaults spreads further throughout the digital-assets industry.

The Asian platform is the latest to encounter financial difficulties stemming from dealings with troubled crypto lenders Babel Finance and Celsius Network Ltd. Zipmex has $48 million of exposure to Babel and $5 million with Celsius

Source: Bloomberg

4.Bank Indonesia to Issue Digital Rupiah as Legal Tender

The central bank of Indonesia is working to issue a wholesale digital rupiah. The new currency is meant to be the only legal tender for digital transactions in the country while the regulator also wants to ensure that it will be exchangeable across borders.

Once issued, the CBDC will be distributed to large banks and payment service providers, which will, in turn, sell digital rupiahs to smaller banking institutions for various retail transactions.


5. Trading Firm Susquehanna Plots Bahamas Crypto Expansion

Quantitative trading giant Susquehanna International Group plans to open an office in the Bahamas, joining a rush of cryptocurrency trading shops wooed by the island nation’s industry-friendly policies

Based just outside Philadelphia and with offices worldwide, Susquehanna is a major liquidity provider for global traditional financial markets.

Source: CoinDesk


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